{"id":43958,"date":"2013-04-26T08:53:00","date_gmt":"2013-04-26T08:53:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-falls-sharply-against-yen\/43955\/"},"modified":"2013-04-26T08:53:00","modified_gmt":"2013-04-26T08:53:00","slug":"forex-market-update-u-s-dollar-falls-sharply-against-yen","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-falls-sharply-against-yen\/43958\/","title":{"rendered":"Forex Market Update: U.S. dollar Falls Sharply against Yen"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The U.S. dollar traded sharply lower against the yen on Friday after the Bank of Japan (BOJ) upheld its monetary policy and predicted week inflation ahead, raising doubts over the efficacy of ongoing economic stimulating measures.<\/p>\n<p><span id=\"more-43958\"><\/span><\/p>\n<p>However, the dollar could trade broadly higher later during the day should the U.S.\u2019s first quarter GDP data indicates that the economy picked up the momentum after crawling in the previous quarter. According to Reuters, economists are expecting the preliminary reading to show a 3% annualized GDP growth. In the fourth quarter of 2012, the GDP rose by mere 0.4% annualized rate.<\/p>\n<p>At around 8:30 a.m. EST, the dollar slumped 0.75% against the yen to trade at 98.51 yen.<\/p>\n<p>BOJ\u2019s new elected governor, Haruhiko Kuroda said that none of the board members favored more monetary easing even as the central bank reiterated its pledge to increase cash, deposits by 60 to 70 trillion yen, annually.<\/p>\n<p>On April 11, the U.S. dollar climbed to a four-year high against the yen to trade at yen 99.95 after the BOJ launched its most aggressive economic stimulating measures to pull the country out of deflation.<\/p>\n<p>Market participants also said that dollar\u2019s persistent failure to breach yen 100 mark also resulted in the pull back.<\/p>\n<p>\u201cThe failure at 100 yen has focused people&#8217;s minds on whether they may have been too optimistic on the near-term prospects for the yen,\u201d said Jane Foley, a senior <a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a> strategist at\u00a0 Rabobank, according to Reuters.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130428002844\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.4\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fforex-market-update-u-s-dollar-falls-sharply-against-yen%2F43958&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130428002844js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/chevron-misses-q1-revenue-estimate-but-earnings-beat-expectations-cvx\/43980\">\nChevron Misses Q1 Revenue Estimate but Earnings Beat Expectations (CVX)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/burger-king-beats-q1-estimates-bkw\/43978\">\nBurger King Beats Q1 Estimates (BKW)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-63\/43971\">\nStocks End on a Mixed Note<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-silver-prices-slip\/43967\">\nGold Prices Settle Lower; Silver Prices Slip<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-float-in-red-territory\/43964\">\nStocks Float in Red Territory<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mixed-after-gdp-data\/43962\">\nStocks Mixed After GDP Data<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-falls-sharply-against-yen\/43958\">\nForex Market Update: U.S. dollar Falls Sharply against Yen<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130428002844im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. dollar traded sharply lower against the yen on Friday after the Bank of Japan (BOJ) upheld its monetary 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